What would you do with $600K to start Investing
Hi BiggerPockets friends,
I am searching for ideas and I would appreciate your input.
I am in the process of selling a property with no tax basis that will net me at least 600K. I can take the tax hit or I can do a 1031 exchange. Investing in real estate has always been an interest but for whatever reason, I haven't jumped in.
I am learning so much by being a part of this group. Thanks to all of you!
My question is, what would you do in this situation?
I am interested in single family rentals and I understand the process of a 1031.
Would you purchase 2-5 homes cash and start from there? Buy more homes with 25% down and having mortgages or a combination of both?
My risk meter is high since this is new to me. I would appreciate your input and if possible, an explanation of how you would proceed and why?
Thanks,
Mike